The Purchase Loan Process

There are several key steps when purchasing a home:

• Pre-approval
• Shopping for a Home
• Application
• Underwriting
• Closing

Pre-approval gives you peace of mind knowing which lending program you best qualify for, as well as understanding any costs associated with the loan. Being a pre-approved buyer tells sellers you’re a qualified buyer with a lender ready to get the transaction completed. During this process we will gather all of the required documentation needed.

Application is the formal process of supplying information about the borrower and the property and results in a Good Faith Estimate of loan details and fees.

Underwriting is the loan approval process which begins we submit your application along with an accepted offer to purchase. This process includes a review of all documents, a property appraisal and ends with the loan funded and property transaction recorded.